It is about two years from production. The limited edition car will likely be a mid-engine two-seater based on a brief sketch flashed on a screen at a media event. It will have carbon fiber body and chassis, Moers said.

The team will have to reduce the power slightly from the 1.6-liter V-6 hybrid now in the F1 cars, but horsepower will exceed 1,000.

"We're going to take technology developed for F1 and put it into a road car," said board member Ola Kallenius.

While it can be a daily driver, it will be the most spectacular and expensive AMG to date.

Daimler chief Dieter Zetsche said more details will be released next year.

A hybrid hypercar shows the automaker's commitment to electrified vehicles and lessons learned will trickle down the product line, said board member Thomas Weber.

F1 drivers Lewis Hamilton and Nico Robert will add input and act as test drivers.

Moers said challenges include developing a gearbox and meeting emissions requirements. Engine engineering will be done in the U.K. while AMG will do the chassis in Germany.

"It will be a road car you can drive to work every day," Kallenius said.